Crestmark Bank is marking its 20th anniversary with the creation of a $100,000 scholarship fund to benefit students at Oakland University School of Business Administration. The fund will award $20,000 in scholarships a year for five years in honor of Crestmark’s 20th year in business. The first scholarships will be awarded for the 2016 fall term.
“Crestmark’s core philosophy is to ensure that we help,” said David Tull, chairman, CEO, and founder of Crestmark Bank. “As we celebrate 20 years of successfully helping small- and medium-sized businesses secure necessary working capital, this $100,000 scholarship fund seems a perfect way to assist students in the community where Crestmark is headquartered.”
Crestmark got its start in Michigan in 1996, with a focus on helping small- and medium-sized businesses access funding, and now serves a national marketplace with diverse financial products and services. Inc. magazine recently recognized Crestmark as one of the fastest growing private companies in the United States on its Inc. 500/5000 list.
The scholarship gift continues a strong relationship between Crestmark Bank and Oakland University. In 2014, Tull was appointed to an eight-year term on the Oakland University Board of Trustees, and he recently was elected its vice chair. In addition, more than a dozen Crestmark employees are alums of the University, and numerous OU students participate annually in the company’s internship program.
“We greatly appreciate the generosity of Trustee Tull and the Crestmark Bank team in creating this extraordinary scholarship,” says Michael A. Mazzeo, dean and professor of finance, Oakland’s School of Business Administration. “These scholarships will be pivotal to the students who receive them, allowing them to take advantage of the wealth of educational and experiential opportunities available at Oakland University.”
Crestmark is an FDIC-insured bank that provides innovative financial solutions for businesses nationwide. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, machinery/equipment financing and equipment leasing. Crestmark has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel/footwear/furniture distribution/manufacturing, hospitality/hotels, insurance agencies, and technology hardware/software.